Fri Dec 06 14:30:47 UTC 2024: ## Indian Business Roundup: Tyre Industry News, Acquisitions, and CEO Appointments Dominate

**Mumbai, Dec 6, 2024** – A flurry of business activity in India this past quarter has seen significant developments across various sectors. The tyre industry has been particularly active, with Eurogrip Tyres appointing cricketer M.S. Dhoni as its brand ambassador, Ceat launching a new truck and bus tyre line, and Ceat also reporting a 42% drop in Q2 profits to Rs 121 crore. JK Tyre further solidified its position by partnering with Vertelo for EV fleet mobility solutions.

Beyond the tyre sector, significant acquisitions have shaped the landscape. The Department for Promotion of Industry and Internal Trade (DPIIT) approved the Hinduja Group’s acquisition of a Reliance stake, while Bharti Global completed its acquisition of a 24.5% stake in BT Group. The Adani acquisition of Gopalpur Port resulted in an upgrade to its rating.

Other key developments include BEML targeting a Rs 900 crore capital expenditure and re-entering the construction sector. Vijay Krishnamurthy was appointed MD & CEO of India INX, and TVS Motor Company unveiled its next-gen RT-XD4 engine platform. Finally, One97 Communications, Paytm’s parent company, approved the sale of a 7.2% stake (the recipient of which was not specified in the source material). These announcements highlight a dynamic Indian business environment marked by significant investment, strategic partnerships, and leadership changes.

Read More